Tesla’s (NASDAQ:TSLA) growth has slowed since last week’s winning streak. Still, while the past few days have been turbulent, TSLA stock is back in the green today, closing on a high note. Despite some declines, it’s up 7% for the past five days and just shy of 25% for the month. As InvestorPlace’s Louis Navellier notes, the compay’s recent European expansion calls for an “undeniable bull case.”
This week didn’t have as many catalysts as we’ve seen over the past two weeks, but that didn’t stop shares from rising. Last week, Tesla fans received an exciting update regarding the Cybertruck. However, April will now soon bring the company’s GigaFest in Austin, Texas. Momentum will continue to be high.
Today has also been a great day for electric vehicle (EV) stocks across the board. TSLA is up, but Chinese automakers Nio (NYSE:NIO) and Xpeng (NYSE:XPEV) have seen even better gains this afternoon. InvestorPlace contributor William White reports that multiple positive market forces are pulling the sector into the green.
Without further ado, let’s take a closer look at the drivers for TSLA stock this week.
TSLA Stock News: Top Headlines of the Week
Tesla Seeks Second Stock Split: What Investors Should Know
Likely the biggest headline this week has been the second Tesla stock split in the works. Following Amazon’s (NASDAQ:AMZN) example, the company is seeking to split shares once more. When it first split back in August 2020, TSLA stock ultimately doubled in value. Now, a similar scenario could play out this time. Nothing is official as of yet; Tesla still needs shareholder approval, which will be put to vote at an upcoming stockholder meeting. The date of that meeting has yet to be announced. More details are emerging, but another split would open Tesla up to even more motivated investors.
Tesla Poised for Another Record Quarter Amid High Gas Prices
This is exactly the type of headline that TSLA stock bulls like to see. Why? Because it reinforces the argument that they have been touting since Russia’s invasion of Ukraine began — that high gas prices will lead to further EV adoption. This also adds to the argument that Tesla is one of the first names consumers search for when considering EVs. Even as competitors roll out more electric vehicle options, many shoppers continue to opt for Tesla. The company is a reminder of the power of branding. Rising gas prices have only helped push TSLA stock higher.
Tesla Is Like Getting Three Companies for the Price of One, Says Bullish Analyst
Many analysts are bullish on TSLA stock. However, Morgan Stanley’s Adam Jonas recently made a highly bullish case. Jonas sees Tesla as a play not just on the EV sector but also on tech and renewable energy. The analysts touts Tesla’s renewable energy applications but also emphasizes what the sector’s advancements mean for energy independence. “Energy security = national security,” Jonas notes. The case for Tesla as a three-for-one play is well made. Investors shouldn’t ignore it.
Tesla extends Shanghai plant suspension amid lockdown -internal notice
Unfortunately, this week’s news hasn’t all been good. For instance, Covid-19 cases continue to rise throughout China. Yesterday, this drove Tesla to pause its plans to resume production at the Shanghai manufacturing facility. A production hub for both the Tesla Model 3 and Model Y, this kind of delay won’t be great for the company. However, previous manufacturing delays haven’t pushed TSLA stock down for too long.
Tesla Deliveries Are Coming. Here’s What to Expect
This year began on a high note for TSLA stock as the company reported impressive delivery statistics for the fourth quarter of 2021. Three months later, investors are likely to see the same phenomenon play out as the company prepares to report deliveries again. As Barron’s reports, “Deliveries are expected to have grown in the first quarter of 2022 from the fourth quarter of 2021. That would be quite a feat.”
Indeed, it would. But demand for Teslas hasn’t slowed down during the past few months. In fact, it has done the opposite. Investors should also feel good about the fact that both Nio and XPeng have demonstrated decent delivery numbers. If Tesla does the same, expect shares to rise.
Tesla to soon open Supercharger network to all EV owners in the UK, says govt official
Finally, as noted by Louis Navellier, Tesla’s European expansion is poised to push shares up even more. Today brought reports of an exciting new development in the United Kingdom. The news? Tesla is planning to open a Supercharger network in the U.K. for “all EV owners.” This will speed up EV adaption in the country and, by default, help increase Tesla sales in Europe’s already booming market. If it goes well, Tesla could implement similar projects elsewhere.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
